Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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May 13, 2019 | recommit, enacting clause stricken |
Jan 09, 2019 | referred to local government |
senate Bill S322
Sponsored By
Joseph E. Robach
(R, C, IP) 0 Senate District
Archive: Last Bill Status - Stricken
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Actions
Co-Sponsors
James Sanders Jr.
(D) 10th Senate District
Patrick M. Gallivan
(R, C) 60th Senate District
Pete Harckham
(D, WF) 40th Senate District
Pamela Helming
(R, C, IP) 54th Senate District
S322 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A3262
- Current Committee:
- Law Section:
- General Municipal Law
- Laws Affected:
- Amd §10, Gen Muni L; amd §§454, 237, 234 & 383, add §454-a, Bank L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010: A4370
2011-2012: A3239
2013-2014: S4672, A1112
2015-2016: S4785, A7017
2017-2018: S286, A7619
2021-2022: S670, A7334, A8289
2023-2024: S1453, A3246
S322 (ACTIVE) - Sponsor Memo
BILL NUMBER: S322 SPONSOR: ROBACH TITLE OF BILL: An act to amend the general municipal law and the banking law, in relation to allowing credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations PURPOSE: To allow savings banks, savings and loan associations and Credit unions to accept deposits from municipalities. SUMMARY: Section 1 changes the definition of "bank" to include credit unions, or federal credit unions, savings banks and savings & loan associations. Section 2. adds accepting deposits from a local government to the gener- al powers of a credit union.
S322 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 322 2019-2020 Regular Sessions I N S E N A T E (PREFILED) January 9, 2019 ___________ Introduced by Sen. ROBACH -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law and the banking law, in relation to allowing credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph d of subdivision 1 of section 10 of the general municipal law, as amended by chapter 623 of the laws of 1998, is amended to read as follows: d. "Bank" shall mean a bank as defined by the banking law or a national banking association located and authorized to do business in New York; A CREDIT UNION AS DEFINED BY THE BANKING LAW OR A FEDERAL CREDIT UNION LOCATED AND AUTHORIZED TO DO BUSINESS IN NEW YORK WHICH HAS ITS PRINCIPAL OFFICE IN A LOCATION DESCRIBED IN PARAGRAPH (A) OF SUBDI- VISION THIRTY-EIGHT OF SECTION FOUR HUNDRED FIFTY-FOUR OF THE BANKING LAW, OR A BRANCH OFFICE IN A LOCATION DESCRIBED IN PARAGRAPH (B) OF SUBDIVISION THIRTY-EIGHT OF SECTION FOUR HUNDRED FIFTY-FOUR OF THE BANK- ING LAW; OR A SAVINGS BANK AS DEFINED BY THE BANKING LAW, A SAVINGS AND LOAN ASSOCIATION AS DEFINED BY THE BANKING LAW OR A FEDERAL SAVINGS ASSOCIATION LOCATED AND AUTHORIZED TO DO BUSINESS IN NEW YORK WHICH HAS ITS PRINCIPAL OFFICE IN A LOCATION DESCRIBED IN PARAGRAPH (A) OF SUBDI- VISION TWO OF SECTION TWO HUNDRED THIRTY-SEVEN OF THE BANKING LAW, OR A BRANCH OFFICE IN A LOCATION DESCRIBED IN PARAGRAPH (B) OF SUBDIVISION TWO OF SECTION TWO HUNDRED THIRTY-SEVEN OF THE BANKING LAW. § 2. Section 454 of the banking law is amended by adding a new subdi- vision 38 to read as follows: 38. (A) TO ACCEPT DEPOSITS FOR CREDIT TO A LOCAL GOVERNMENT, AS DEFINED IN PARAGRAPH A OF SUBDIVISION ONE OF SECTION TEN OF THE GENERAL EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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